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Gbpjpylong

GbpJpy -> This Is The SetupHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area. You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside. On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely. Thank you for watching and I will see you tomorrow!
Long
by basictradingtv
39
The GBPJPY achieved some Gains.The GBPJPY pair ended its recent bullish rally by achieving some gains and reaching 166.40, followed by Diving bearishly towards 162.75, hinting its surrender to the stability of the major barrier around 166, which will hinder the attempts to resume the bullish attack in the near term and medium term period. Also, stochastic exit from the overbought areas will force the price to provide new negative trades that might push it to settle within the bearish channel again, to suffer some losses by moving towards 161 and beyond... BUYING SCENARIO: For now point to consider will be 162.75 as a major support...if hold (Buying Scenario) 163.80 will be my first target (Resistance) and if broken then 167 will be confirmed. SELLING SCENARIO: again point to ponder will be 162.75 as support and if broke downside then 161.10 will be my target and if broken too then we'll see further nose dive Trade Wisely.
by AdilHussain731333
GJ Long Plan Off a bounceTLDR plan - go long off a bounce at previous support around 161 to test previous highs of 169.3 and then perhaps a runner up if a break of pysch level 170 to test the top 172.2. GJ continues to be ranging between 164 and 158 or lower bound 156. After the recent rejection of 166 we feel that there could be a convincing push up from a bounce of 161 following last week's low of 158.6 for a sustained move upwards. A good RR trade is a bounce off of previous resistance 161 and a retest break of 164 will be confirmation that this has legs and will go higher to break previous tops of 169-170. Obviously a break below 158 and the range could break downwards hence invalidate below this point however we feel the likely scenario is up trend. Happy trading!
Long
by WestEndFX
GBPJPY POSSIBLE LONG / DOUBLE BOTTOMLooking on the four hour chart. Pull back from resistance level could be forming a possible double bottom on a previously tested support line. Keeping an eye on the close of the 4HR candle if it closes within the zone I will be looking to go long on GBPJPY finding an entry on a smaller time frame. If it breaks through the support I will then look for a pullback to the support/resistance line then look for a short opportunity. Only risk what you can afford. This is not financial advice. Happy Trading.
Long
by FXTonyTrades
2
GBPJPY SELLWelcome . British pound against the yen. in a very negative state. With the price reaching the strong resistance 164.500, with a retest of the area. It also formed a very negative candle on the daily chart. with a downward trend. There is a lot of pressure from the sellers to bring the market down. To 160,000 levels in the first stage. And level 158.000 good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click for free content. Thank yo
Short
by inv_market09
69
GBPJPY gunning for 166.76GBPJPY has failed to hold below 164.38 which failed my bearish conditions and has changed my view on the price movement. GBPJPY has been bullish for the past 1 week and I think it is consolidating so it can move higher and at this point, I am bullish biased on this pair and would recommend everyone look out for buying opportunities at 164.00 - 163.70 region. 👉 Price is above the 200EMA which clearly means we are still bullish 👉 Price has broken multiple resistance/supply/downward trendlines over the past couple of days 👉 Price is in a 5 waves progression and I believe wave 5 is currently unfolding, which puts my first target at 166.76. I would recommend everyone to buy the dip, and as long as 163.44 holds uptrend is not over yet. I would love to hear your views concerning GBPJPY. Please like if you agree and follow for more updates ❕❕❕
Long
by owlswift_fx
20 Reasons for Buy GBPJPY🔆 MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW ☀️ 1: ✨ Eagle Eye: Although the trend is extremely bearish, the current move is showing a lower high, which may indicate a potential shift towards a bullish trend. 2: 📆 Monthly: There is a clear bullish trend at the monthly level, with consecutive monthly lows being protected. 3: 📅 Weekly: A deep corrective move just finished last week, and this may cause a change in market behavior towards a bullish trend. 4: 🕛 Daily: The intra-day movement is currently sideways, indicating a potential shift towards a bullish trend. Since the big time frame trends are also bullish, we need to change our perspective and wait for a resistance break. 😇 7 Dimension Analysis 🟢 Analysis Time Frame: Daily 5: 1 Price Structure: The price structure is currently sideways to bullish. 6: 2 Candlestick Pattern: The long wick bearish change of guard indicates a potential correction, which we should be prepared for. 7: 3 Volume: The volumes are currently not supporting the bullish trend, which is a little strange. Therefore, we need to be careful with buy entries. 8: 4 Momentum UNCONVENTIONAL Rsi: Resistance is at 60, but the current momentum is sideways. 9: 5 Volatility Measure Bollinger Bands: There was a head fake from the lower band, and the current closing is also indicating a similar scenario. Therefore, we need to wait for a strong confirmation before going with the bull trend. 10: 6 Strength ADX: Compared to last week, the bulls are gaining strength. 11: 7 Sentiment ROC: Last week, the JPY rate of change dramatically decreased, making it the weakest currency for the upcoming sessions. ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish 13: Entry Move: We should wait for the correction to end. 14: Support Resistance Base: Daily and H4 areas with FVG (Fibonacci Volume Gradient). 15: FIB: We can use a 15-minute trendline breakout with a Fibonacci trigger event on H4. ☑️ Final Comments: Buy at 15-minute Confirmations 16: 💡 Decision: Buy 17: 🚀 Entry: We can enter at 161, but this is not final, and we need to confirm at the time of entry. 18: ✋ Stop Loss: 158 19: 🎯 Take Profit: 170 20: 😊 Risk to Reward Ratio: 1:3 🕛 Expected Duration: The expected duration for the price to reach the target price is around 3-4 weeks, based on the current market conditions and trends.
Long
by Optimum369
GBPJPY: Upbeat Japan inflation, sluggish yields!During early Friday, the GBP/JPY bulls attacked the previous monthly high and refreshed the multi-day top by picking up bids around 164.80, despite the downbeat expectations of Japan inflation numbers. The latest run-up of the cross-currency pair can be attributed to the optimistic sentiment, even though the yields are still slow. It should be noted that no information has been omitted in this paraphrased text. In March, the Tokyo Consumer Price Index (CPI) increased to 3.3%, which was higher than the expected 2.7%, but lower than the previous month's 3.4%. The Tokyo CPI, excluding food and energy, also rose to 3.4% compared to the previous reading of 3.2% and the market consensus of 3.3%. In February, Japan's Industrial Production growth exceeded estimations with a 4.5% month-on-month increase, compared to the expected 2.7% and the previous -5.3%. Similarly, Retail Trade showed an improvement in February with a 6.6% increase, surpassing the analysts' forecast of 5.8% and the previous reading of 5.0%. However, the unexpected increase in Japan's Unemployment rate from 2.4% to 2.6% in February can be attributed to the recent weakness of the Japanese Yen (JPY). Technical analysis A downward-sloping resistance line from December 13, 2022, near 164.80 by the press time, challenges immediate GBP/JPY upside.
Long
by Sphyn-Trader
2
GBPJPY to find support at previous resistance?GBPJPY - 24h expiry - We look to Buy at 161.85 (stop at 160.90) Previous resistance level of 161.85 broken. Short term bias has turned positive. We are trading at overbought extremes. A lower correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 164.05 and 164.55 Resistance: 163.75 / 165.70 / 168.55 Support: 161.75 / 159.30 / 155.35 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
#GBPJPY- PRICE HEADING TO MAKE YEARLY HIGH 2023HEY EVERYONE, GBPJPY has been bullish since last week sells off where price touched down the discounted price zone where it rejected and currently heading towards to make yearly high. It is possible due to GBP; continues to shows strong bullish momentum and where JPY is tumbling and showing no size of bullish behaviour. Last week selling has been recovered and indicating price dropped for a specific reason most of the selling position would have been wiped off and now retails trader will continue to jump in the market with sell orders. For us it would be wiser to wait for the price to come to our zone where we can sell for long shot. Two opportunities are here, firstly is obviously the buying opportunity until it reaches our selling zone where we can sell for big bearish impulse.
Short
by Setupsfx_
20
GBPJPY Intraday Move ====> BullishThe GBPJPY is approaching the upper bound of the downward trend channel which I believe might turn bearish at 162.46 - 162.75 region or it would breakout of the channel. 1. I believe price is currently unfolding wave 5 2. We can see divergence between price showing higher low while MACD and RSI are shown lower low I am still bearish bias overall until price breaks the upper channel, but I would advise looking for short opportunities at 162.46 - 162.75. Don't forget to like, your comments and follow me for more updates
Long
by owlswift_fx